Government of Canada Invests in New Program to Build Canada’s Clean Industrial Advantage

DR

By Dean LaBerge, Local Journalism Initiative ReporterGrizzly Gazette

Wed., Dec. 23, 2020

On December 11, 2020, Prime Minister Justin Trudeau announced a plan to support economic growth, cut pollution, and create good-paying and long-lasting jobs. $3 billion will be invested over five years into the new Net Zero Accelerator under the Strategic Innovation Fund. This initiative aims to rapidly accelerate decarbonization projects with large carbon emitters, scale-up clean technologies, and hasten Canada’s industrial conversion across all sectors. This program aims to make Canadian industries more competitive and innovative, which will provide Canadians with new job opportunities that will last for years to come. Implementation of the Net Zero Accelerator programs is also expected to lead to a reduction of greenhouse gases that will ensure that Canada exceeds its 2030 target.

This program will invest in large emissions-reducing and job-creating projects across the country with three focus areas:

· Encouraging and supporting the development and implementation of clean technology in every industrial sector.

· Focused support in the development of clean technologies in Canada’s aerospace and automotive manufacturing industries.

· Focused support in building on Canada’s natural resources and expertise to establish an end-to-end battery ecosystem.

The Government of Canada encourages companies to apply for funding through the new Strategic Innovation Fund – Net Zero Accelerator. This program uses the same parameters as the current Strategic Innovation Fund with additional emission reduction and sustainability criteria.

Minister of Innovation, Science and Industry Navdeep Bains further explained that “Our government’s plan to build a better future will protect our communities and grow the economy. This investment for the Strategic Innovation Fund – Net Zero Accelerator means companies in Canada will decarbonize faster and our clean-tech sector will scale up faster and, in turn, they will offer the world more of the low-carbon products that consumers and investors increasingly demand. Our government is committed to ensuring that Canadian businesses have the tools, support and conditions to become world leaders so that people everywhere equate ‘made in Canada’ with the most innovative and sought-after products.